Welcome to Kleptocracy. Keep scrolling for all the latest news, research and analysis on how corruption is reshaping global politics.
This week, I want to highlight a new initiative by our friends at Ukraine’s Anti-Corruption Action Center. Block Putin’s Wallets is concise visual guide to where Putin’s inner circle are hiding stolen assets in the West. Please share on social media and send to lawmakers or whoever has power to enact sanctions in your country.
Targeting Putin’s oligarchs may or may not prevent further aggression against Ukraine at this stage. But having laundered their dirty money through our financial systems, it’s really the least we can do.
Best,
Nate
💸NEW FROM KI
How to stop former Western leaders from becoming paid shills for autocrats | Casey Michel, Foreign Policy
“That Schröder’s Gazprom nomination could still take place amid Russia’s current threat posture shows that no amount of public shame will reverse this trend across the West… Democratic governments [must] legally bar ex-leaders from following in Schröder’s path and becoming symbolic henchmen in the spread of kleptocratic dictatorship worldwide.”
How the West botched Ukraine | Casey Michel, The New Republic
“While the idea that NATO expansion has driven the latest crisis is a falsehood, the West isn’t fully without blame… [having spent] decades tossing open its doors to the geysers of illicit, oligarchic wealth that has spewed from the post-Soviet space…”
🗞️NEWS
US sanctions on Russian banks West's most potent economic threat | Reuters
“The [sanctions] package would expand a technology export ban to include any goods made with U.S. components or software, as well as proposed sanctions against specific Russian billionaires. But sanctions experts say more than any other measure, aggressive action against Russia's state banks would hit its economy the hardest.”
UK scraps rich foreign investor visa scheme | BBC
Priti Patel said ending Tier 1 investor visas, for those spending at least £2 million, was the start of a "renewed crackdown on illicit finance and fraud".
Alexei Navalny faces 15 more years in prison as new trial starts | The Guardian
The opposition leader is accused of embezzling funds from his Anti-Corruption Foundation, which has relentlessly exposed the kleptocracy sustaining Putin’s inner circle.
World Bank accused of ‘funding campaign of repression’ in Xinjiang | South China Morning Post
There is “significant evidence” that clients of a World Bank subsidiary were “active participants” in the genocide against Uyghurs.
Leaked audio file renews allegations of massive IRGC corruption | Iran International
The conversation relates to a $3 billion embezzlement scheme involving Tehran municipality and a firm controlled by the IRGC.
Ericsson shares drop after probe on graft in Iraq when ISIS active | Reuters
The company's investigation had identified payments made to use alternate transport routes in connection with circumventing Iraqi customs.
Kazakh ex-dictator used UK company to help protect his $8 billion business empire | The Bureau
The revelations add to the growing perception that the UK is advertising itself as a jurisdiction where oligarchs, dictators and also kleptocrats can readily do business with little oversight.
Russian skater's entourage could be prosecuted under new US law | NBC
Anti-doping experts say the episode falls under the scope of the recently enacted Rodchenkov Act that criminalizes doping schemes in events involving American athletes.
Lebanon’s central bank chief vanishes as corruption probe mounts | Voice of America
Riad Salameh is the subject of multiple inquiries and believed to be on the run.
Renowned Mexican scientist pleads guilty in Miami to being an agent for Russia | Miami Herald
Russian officials directed Hector Cabrera Fuentes, a cardiac scientist, to spy on an FBI informant.
📖RESEARCH & ANALYSIS
As he threatens Ukraine, Putin fights a second battle at home | Washington Post
“[A] likely reason for Mr. Putin’s belligerence is his worry that a successful pro-Western democracy right next door would set an example that citizens of his authoritarian kleptocracy might find attractive — even inspiring.”
What Ghana can do to combat corruption: educate, prevent, enforce | Joseph Yaw Asomah, The Conversation
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